SmartShift by Mahindra and Porter Announce their Intent to Merge

Mumbai: Close on the heels of picking up stake in the Zoomcars, Mahindra and Mahindra on Friday announced an intent to merge SmartShift with Porter by Resfeber Labs, India’s leading tech-enabled logistic solutions provider in the goods transportation space.

This merger is subject to corporate and regulatory approvals.

Under the aegis of the merged identity, which would be called Mahindra SmartShift, both go-to market brands ‘Porter’ and ‘SmartShift’ will continue to service their respective customers and partner-drivers in order to optimise greater operational efficiency including pan India presence in the shared mobility space.

Mahindra would invest a sum of Rs 65 crore in the two entities which reinforces the group’s commitment in this space. This will result in significant business synergies as well as open up new vistas for this business. Pranav Goel will be the CEO of Mahindra SmartShift while Kausalya Nandakumar will work as interim Co-CEO to ensure smooth transition and integration of both the companies.

This consolidation is likely to strengthen the joint objectives of SmartShift and Porter within a reasonable time frame, said Mahindra in a statement.

The company has been keen to invest in the shared mobility space as a part of its strategy to promote and participate in sustainable mobility solutions, including promoting load aggregation digital platforms.

Anish Shah, Chairman, SmartShift by Mahindra, said, "Being part of our diversified group, working on a young entrepreneurship culture has been our mantra for SmartShift. Our new association with Porter will be a win-win for both companies and will definitely cement our position in the ever-growing shared mobility space”.

Pranav Goel, Co-Founder, Porter informed that Porter is the largest tech-logistics marketplace in the country, having serviced more than 200,000 customers and more than 10,000+ partner-drivers on the platform. The association with Mahindra will take the business to the next level.

"The synergies between our business modules are evident and this association with Mahindra will further build on the trust of our stakeholders. With this Porter has now done a cumulative fund raise of more than USD 20 million," added Goel.

According to a report, the logistics industry in India is pegged at $130 billion with 35%-40% of it being in the intra-city space. It is also estimated that 18 lakh small commercial vehicles complete millions of transactions daily, across the country.

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